The Canada Revenue Agency (CRA) has outlined various tax credits and deductions that you may qualify for in sectors relating to family, childcare and caregivers, pension and savings plan, employment, education, disability and provincial and territorial.
Canadians should watch for any letters sent from the CRA notifying them that their government benefits are being reviewed this year as the Canada Revenue Agency (CRA) has announced that it will review the benefits for around 200,000 Canadian residents in 2024.
Per the official CRA website, the federal agency says that it sends roughly 200,000 such letters yearly to Canadians whose information requires any updating or residents who may be receiving credits and benefits to which they are not entitled.
Tax season is well underway and if you plan on filing your own income taxes for 2023, then it's important that you get up to speed on any tax changes implemented by the Canada Revenue Agency (CRA).